Accountant for pre-Quickfile period

Hey,

We adopted QuickFile from 1 April 2015, but our first year accounts (for the period 22 May 2014 - 31 March 2015) are now due within 58-days and I’m not really sure where to turn…

Can this be done by the QuickFile service without me importing all the old data? Would the QuickFile accountant be prepared to review non-QuickFile systems to verify that everything’s kosher?

I’m just really loathing the idea of having to go through 10 month of receipts :confused:

Will

Pre 1st April 2015 what system were you using? Are you able to produce a trial balance for the month ending March 2015?

Generally our service works on the proviso that the data is in your QuickFile account and fully tagged. It may however be possible to prepare a set of accounts from the trial balance plus some other data.

You can also directly contact accountants on our panel to see if they can offer you a more bespoke services. The accountants listed on the QuickFile dashboard all routinely work on QF and are familiar with the software.

Hey @Glenn

Thanks for your prompt reply as aways.

Pre April 15, I was using KashFlow… I no longer have access to that system, but have all of the receipts and invoices etc stored electronically, plus I took a trial balance as at 31 Mar 15 when switching (which I modified to deal with outstanding payments etc).

To be honest though, I’m concerned about categorisation and classification - I’m not convinced pre-and post-April expenses are ending up in the same accounts and I really do worry that things aren’t going in the right places for tax allowances / disregards etc. That’s really the crux of my concerns… I just don’t know whats what with tax law :confused:

I presume that the accountant would look over and make sure it’s all right?

Cheers,
Will

If you can import the TB and then bring your books up to date for the period (as best you can) I am sure that any balances can be moved around on the final year-end journal.

Ultimately you will be able to query the accounts and sign-off when you are happy with the final accounting statements.

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@Glenn,

If i was to decide to load all of the previous years purchases / sales into QuickFile, so that I can be sure things are right myself (I’m not convinced things went into the right boxes or consistently in the old system), how you you advise I did it?

I’m thinking…

  1. back up current state
  2. delete trial balances
  3. load previous year data (sales/purchases/banking)
  4. run YE process

That sound right to you?

Will

If you don’t mind putting the work in importing the data and retagging that’s fine. It’s always better if you can to work from a trial balance rather than going back and importing potentially years worth of historic invoices. It depends on the volumes really, how many years back do you need to go? How many invoices do you have? Are you a Limited company or Sole Trader?

The steps you listed look correct to me. It’s just worth noting first that there is no way to restore from a backup. Backups are just a collection of CSV files so can only be used as a manual reference.

Ah right… no restore option :confused:

It’s only 10 months - we only incorporated and started up in May 2014 so it’s only few invoices, but almost 300 purchases with all of the initial set up etc.

I just suppose the only real benefit of doing so is knowing that things are catergorised correctly and consistently…

I’ll have a think :smile:
Cheers,
Will

If it helps I was in a similar situation and if you have the electronic bank statements/downloads, 10 months of purchases will not take very long at all (as in just a few hours unless there are thousands all from different suppliers)

I would also skip uploading invoices and instead just upload all your historic bank statements. Upload the statements, get your bank balancing, then you can use bulk tagging to dynamically create all the sales and purchase invoices direct from your statements.

If you upload invoices then, upload bank statements you potentially have a very tedious task of matching them all up.